Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company is examining its pension fund and pays for an actuarial study of its employees. The actuary states that the life spans of the

A company is examining its pension fund and pays for an actuarial study of its employees. The actuary states that the life spans of the employees will be normally distributed, mean is 72 and the standard deviation is 5 Recent studies have suggested that advances in healthcare may increase the lifespan of employees. How much would the average life expectancy need to rise in order for 70% of people to live to age 75 or above?

answer in excel form

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Graphical Approach To College Algebra

Authors: John E Hornsby, Gary K Rockswold, Margaret K Lial

5th Edition

0321908260, 9780321908261

More Books

Students also viewed these Mathematics questions

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago

Question

1. Effort is important.

Answered: 1 week ago